XML 40 R17.htm IDEA: XBRL DOCUMENT v3.20.2
Other Balance Sheet Information
6 Months Ended
Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Other Balance Sheet Accounts Other Balance Sheet Information
        The following is a summary of other current assets at June 30, 2020 and December 31, 2019:
(In millions)June 30,
2020
December 31,
2019
Other Current Assets:  
Non-trade receivables$16.7  $22.1  
Prepaid expenses and other current assets13.5  13.4  
Income taxes receivable15.2  8.2  
Total other current assets$45.4  $43.7  
        
The following is a summary of other current liabilities at June 30, 2020 and December 31, 2019:
(In millions)June 30,
2020
December 31,
2019
Other Current Liabilities:  
Accrued customer volume rebates$18.0  $28.4  
Accrued compensation(1)
14.7  16.0  
Income taxes payable8.6  10.4  
Accrued interest4.2  4.2  
Pension liabilities0.9  1.2  
Restructuring liability2.8  2.7  
Other accrued liabilities42.9  50.7  
Total other current liabilities$92.1  $113.6  
________________________________
(1)Accrued compensation presented in the table above includes salaries and wages, as well as estimated amounts due under the annual employee incentive programs.
Acquisitions
        On May 4, 2018, GCP acquired 100% of the outstanding capital stock of Clydebridge Holdings Limited which owns 100% of RIW Limited ("RIW"), a U.K.-based supplier of waterproofing solutions for commercial and residential construction applications. The aggregate purchase price of $29.5 million, net of cash acquired of $10.0 million, consisted of a net cash payment of $29.8 million, which was reduced by working capital adjustments of $0.3 million. At the closing of the acquisition of RIW, $2.8 million was placed into escrow which was ascribed to the purchase price and will be released to the sellers no later than December 30, 2020. The escrow was related to the sellers’ satisfaction of indemnity claims and general representations and warranties. As of June 30, 2020, $1.3 million of consideration was released from the escrow to the sellers based on the provisions of the related agreement. Please refer to Note 20, "Acquisitions and Dispositions" to the Company's Consolidated Financial Statements included in the 2019 Annual Report in the Form 10-K for further information on this transaction.